JPMorgan shareholders to vote again on separate chairman and CEO

NEW YORK (Reuters) - JPMorgan Chase & Co shareholders will again vote on a proposal calling for the board to select a chairman who is not the company's chief executive, according to a proxy statement filed on Wednesday for the company's annual meeting on May 16.

The board said in the proxy that it is against the measure, which was proposed by a shareholder who contends that good corporate governance requires an independent chairman. The board and current Chairman and Chief Executive Jamie Dimon have defeated similar proposals in the past.

A year ago, a similar proposal received only 32.6 percent of votes cast at the annual meeting of the company, which is the biggest U.S. bank by assets. The biggest share the measure has won recently was 40 percent in 2012.

Bank of America Corp , the second-biggest U.S. bank, also has one person who is both chairman and chief executive and will hold a vote on a similar shareholder proposal on April 26.

Wells Fargo & Co and Citigroup Inc, the third and fourth biggest U.S. banks, have different people in the two roles.

(Reporting by David Henry in New York; Editing by Bill Trott and Meredith Mazzilli)

Related News

Italy government wins confidence vote on 2017 deficit cuts

May 31, 2017

US-ITALY-POLITICS-BUDGET:Italy government wins confidence vote on 2017 deficit cuts

British Airways says IT systems running again after weekend outage

May 30, 2017

US-BRITAIN-AIRPORTS-SYSTEMS:British Airways says IT systems running again after weekend outage

Payments company Square launches in the UK

Mar 28, 2017

US-BRITAIN-SQUARE:Payments company Square launches in the UK

You may also like these

Italy government wins confidence vote on 2017 deficit cuts

May 31, 2017

US-ITALY-POLITICS-BUDGET:Italy government wins confidence vote on 2017 deficit cuts

British Airways says IT systems running again after weekend outage

May 30, 2017

US-BRITAIN-AIRPORTS-SYSTEMS:British Airways says IT systems running again after weekend outage

Payments company Square launches in the UK

Mar 28, 2017

US-BRITAIN-SQUARE:Payments company Square launches in the UK

Search
Financial Markets

About Us

The Morning Herald is a fast news provider in the United States since 2005. Fiercely independent and armed with irreverent intelligence, there’s no other place to get your news other than The Morning Herald.

Contact us: sales@themorningherald.com